$200B Financial Group Cetera Approves 4 Spot Bitcoin ETFs on Its Platform
Owned by Cetera Holdings, Cetera Financial Group is a platform that is home to more than 12,000 financial professionals and their teams. Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management
Cetera Financial Group announced on Thursday that it has introduced a new policy regarding the usage of spot bitcoin exchange-traded funds (ETFs) in brokerage accounts. "The policy includes education and resources designed to help affiliated financial professionals guide their clients in incorporating bitcoin ETFs into their investment portfolios," the company stated.
Owned by Cetera Holdings, Cetera Financial Group is a platform that is home to more than 12,000 financial professionals and their teams. Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management, as of Dec. 20, 2023. Matt Fries, head of investment products and partner solutions at Cetera, commented:
We are prudently embracing bitcoin ETFs and we prioritized developing this important guidance to help our financial professionals implement these products in client portfolios.
The four approved spot bitcoin ETFs are Blackrock's Ishares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Invesco Galaxy Bitcoin ETF (BTCO), and Franklin Bitcoin ETF (EZBC). "The selected funds are sponsored by leading ETF providers with track records of successfully launching new product strategies, and are well positioned with established resources, tools, and knowledge," Cetera explained.
